Calm before the storm? Analyst says $20K Bitcoin possible in 3 months

The price of Bitcoin (BTC) has been consolidating within a tight range for several months. If the top cryptocurrency successfully breaks out, Bitazu Capital founding partner Mohit Sorout says a record-high would be imminent. Since July 2020, Bitcoin has been ranging between $10,200 and $11,800, a 15% range. It has seen subdued volatility for a prolonged period, except for some short instances of a volatility spike. When Bitcoin stays stable for a long time in a tight price range, a major price movement typically occurs.  Whether a breakout would occur…

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Novogratz: Global ‘Liquidity Pump’ Will Keep Bitcoin Rising, Price to Hit $20K This Year

Billionaire investor Michael Novogratz said global “liquidity pump” from stimulus packages will keep driving bitcoin’s price higher. He expects the price of bitcoin to reach $20,000 this year, fueled by retail investors shifting to the cryptocurrency. Mike Novogratz’s Bitcoin Prediction Galaxy Digital CEO Michael Novogratz said on Tuesday that bitcoin and gold have more room to grow and will continue to rise due to global “liquidity pump,” afforded by governments’ stimulus packages, coupled with an influx of retail investors. “The liquidity story isn’t going to go away. We’re going to…

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Comprehensive Analysis Predicts Bitcoin Price Near $20K This Year, $398K by 2030

A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin cash, ethereum, and litecoin. New Bitcoin Price Forecast The June edition of the Crypto Research Report (CRR) reveals price predictions for several cryptocurrencies: bitcoin, bitcoin cash, ethereum, litecoin, and stellar. This is the 10th publication of the CRR report and it covers a popular valuation method used to forecast bitcoin’s…

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Bitcoin to Rise to $20K This Year Spurred by Government Money Printing and Covid-19: Bloomberg

Bloomberg has forecast bitcoin to reach its record high of $20,000, and possibly $28,000, this year. According to the company’s June Crypto Outlook report, “something has to really go wrong for bitcoin not to appreciate in value.” Bloomberg points to quantitative easing and the coronavirus pandemic as the fuel behind bitcoin’s maturity, particularly when benchmarked against the falling stock market and crude oil. Both factors will cause the price of bitcoin (BTC) to rise. “Covid-19 is hastening the shift away from paper money and stimulating plenty of quantitative easing, which…

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Bitcoin Options Market Data Shows Mere 9% Chance BTC Reaches $20K in 2020

The Bitcoin (BTC) options market, which is mostly dominated by Deribit and CME, gives a 9% chance for BTC to rise to it’s all-time high at $20,000 by the end of 2020. Given the tendency of Bitcoin to see a prolonged rally six to eight months after a halving is activated, traders in the options market are relatively cautious about the medium-term trend of BTC. Data shows the BTC options market is tilted towards bulls In the near-term, many traders on both Deribit and CME are seemingly optimistic on the…

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